North Liverpool’s flagship tourist project, the futuristic Sky Pier, has been temporarily shelved after £900,000 of European cash could no longer be used to fund it.

Works are meant to have begun on the ambitious £2m project, but the delay has led to Liverpool city council losing almost half of its funding – after Brussels ruled the project had to be completed by autumn 2015.

The council told the ECHO in July that it intended to begin work in late 2014 and be finished by the summer but it never even began.

But the council has insisted they are “still committed” to the Sky Pier on Everton Brow which is estimated to generate £3.2m for the north Liverpool economy.

The £900,000 of Euro cash will now be redirected to other projects.

The futuristic project promised panoramic views over the river and the Welsh mountains, making it a tourist haven with the observation point expected to attract 150,000 tourists every year. The Everton Park attraction would boast a sky walk on top of a glass-covered observatory.

Cllr Malcolm Kennedy, cabinet member for regeneration, said: “We are still absolutely committed to the Sky Pier project. We are working hard with partners to identify ways of attracting the level of investment that is needed. If we are able to do that then the scheme is ready to move forward very quickly.

“We are also pushing ahead with other exciting projects to improve the park, including walking trails and other initiatives designed to make it a popular community green hub which benefits local residents.

“There is already a new Heritage Trail, a Portrait Bench highlighting the rich social history of the space, and the iconic and historic ‘lock up’ which features prominently on Everton Football Club’s crest is permanently lit up.

“I think the future for Everton Park is really exciting and we are determined to put it on a par with some of the best parks in the world.”

European funding was supposed to pay for £904,000 worth of the £2m Sky Pier project with the remaining cost due to be covered by further grants and council cash.

Once completed the Sky Pier will be operated by Liverpool council who will appoint a third party to run the building on its behalf.